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Doosan Group Aims To Acquire Skoda Power

Posted on June 23, 2009

The Doosan Group of South Korea announced it will buy Czech turbine manufacturer Skoda Power in a transaction of approximately US$633 million. The acquisition, if successful, would complement Doosan's power equipment business by adding Skoda-owned turbine technologies.

"Our group is pursuing the deal, but details such as which unit in Doosan Group would acquire (Skoda Power) have yet to be set," a Doosan spokesman said. Skoda Power manufactures steam turbines from 5 to 1200 MW, while its transportation unit builds electric locomotives, tramcars, diesel buses and related equipment. The Doosan Group’s flagship unit, Doosan Infracore Co, acquired one of the world's leading compact equipment manufacturers, Bobcat, along with two other units from U.S. conglomerate Ingersoll-Rand for $4.9 billion in cash in 2007.

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